London plans 2 pct commercial property tax for crossrail

From Bloomberg: London Mayor Boris Johnson today published a plan to fund the city’s Crossrail transportation system by levying a 2 percent supplement on taxes for commercial real estate with an assessed value of 50,000 pounds ($82,520) or more.

The measure will be introduced in April and will be limited to an “estimated” one fifth of London’s business premises, the mayor’s office said today in an e-mailed statement……….Full Article: Source